Shenzhen Refond Optoelectronics Co.,Ltd. announced that it expects to receive CNY 699.1828 million in funding
May 14, 2020
Share
Shenzhen Refond Optoelectronics Co.,Ltd. (SZSE:300241) announced that it has signed a share subscription agreement of private placement of not more than 160,423,488 A shares for gross proceeds of not more than CNY 699,182,800 on May 15, 2020. The transaction will not include participation from more than 35 investors, including Gong Weibin who will subscribe between CNY 50,000,000 to CNY 200,000,000. If after the issuance Gong Weibin holds more than 30% stake, the shares cannot be transferred within 36 months from the closing date; if after the issuance Gong Weibin holds not than 30% stake, the shares cannot be transferred within 18 months from the closing date. The shares which will be subscribed by other investors cannot be transferred within 6 months from the closing date. The transaction has been approved by the shareholders of the company in its fifth meeting of the fourth directorate and the fifth meeting of the fourth supervisory board. The transaction is subject to approvals of the Shareholders Meeting and the China Securities Regulatory Commission.
SHENZHEN REFOND OPTOELECTRONICS CO., LTD. is principally engaged in the research and development of light emitting diode (LED) packaging technologies, as well as the manufacturing and sale of LED packaging products. The Company primarily provides high end backlight LED components and assemblies, LED components and assemblies for lighting, as well as LED components and assemblies for displaying, among others. The Company's products are widely used in the manufacture of liquid crystal display (LCD) televisions, computers and mobile phones, as well as daily use electronic products, urban lighting, indoor lighting, displays, industrial applications and automobiles, among others. The Company distributes its products in domestic and overseas markets, with Pearl River Delta region and Yangtze River Delta region as the main market.